Monday, December 5, 2022
HomeLaw & PoliticsKraken CEO Jesse Powell resigns from his position

Kraken CEO Jesse Powell resigns from his position

After more than 11 years as the CEO of the cryptocurrency exchange Kraken, Jesse Powell, one of the platform’s co-founders and current CEO, has decided to stand down from his position.

According to a statement made by Kraken on Wednesday, chief operating officer Dave Ripley, who has been with Kraken since 2016, will follow Powell as CEO. Ripley has been with the company since 2016. The crypto exchange’s soon-to-be-former chief executive officer will continue to work for the firm in the capacity of board chair while the company looks for a new chief operating officer.

Ripley said his goals were “in lockstep” with Powell’s

Ripley said his goals were “in lockstep” with Powell’s
Ripley said his goals were “in lockstep” with Powell’s

In view of Powell’s rise to the role of new leader, Ripley said that his objectives were “in lockstep” with Powell’s. The soon-to-be former CEO is quoted as saying that the expansion of Kraken was a major factor in his decision to stand down from his position, stating, “It’s simply grown to be more demanding on me, less enjoyable.” Powell also said that he intended “to be highly active with the organisation” moving forward.

Powell has served as the CEO of Kraken since 2011, during which time he guided the United States-based cryptocurrency exchange through the industry’s formative years. In the year 2022, he made the announcement that Kraken will be leaving its global headquarters in the city centre of San Francisco. He also blasted “woke activists” as being unsuitable for working at the cryptocurrency exchange because of their ideology.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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